Inflation in Malta

Malta - Harmonized Inflation

Economic activity likely strengthened in the second quarter, after easing sharply in Q1 on cooling domestic demand. Thanks to a surge in energy production, industrial output rebounded in June, helping lift the sector back to growth in the quarter following Q1’s contraction. In addition, retail sales were buoyant in Q2 and consumers turned more optimistic. This, combined with robust bank lending to households and the unemployment rate hovering at record-lows in the same period, suggests that private spending gathered momentum. Meanwhile, although merchandise exports dipped in Q2, a pick-up in tourist arrivals and expenditures likely cushioned the goods trade deficit’s drag on growth. Going forward, a sharp rise in confidence in the retail trade sector in July bodes well for business activity at the start of the third quarter.

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